Monday, February 17, 2014

Vietnam Town Expanding By 186,000 SQFT

Even though there are 51 unsold retail condos in the 120-unit first phase of Vietnam Town, the owners have decided to go through with a second phase. The project will include an additional 186,000 SQFT with 141 more retail condos. These would be distributed across a total of five buildings with the average retail condo size being around 1,000 SQFT.

Part of Vietnam Town phase two will be a single 40,000 SQFT pad that could easily accommodate a grocery store. 99 Ranch Market or Lion Market have already been identified as potential candidates. There are also plans to build a parking structure on the site.

This seems like an ideal place in the middle of Little Saigon for a mixed-use village, so I'm a bit disappointing that a housing component was not included in the project. This could have become a Vietnamese Santana Row. At least doubling down on the project will increase the chances for success and turning it into a regional draw.